Pump.fun, a project built on Solana, raised $600 million in just 12 minutes during its public token sale. The sale happened on July 12 at 2 p.m. UTC. It offered 150 billion PUMP tokens at a fixed price of $0.004 each. That amount covers 15% of the total supply, which stands at 1 trillion tokens.
The token powers Pump. Fun’s burgeoning ecosystem. It’s already famous in the Solana ecosystem for allowing users to create and exchange meme-based tokens. Now, it aims to utilize the funds thus raised to implement numerous upgrades. They range from the provision of social trading features, fee refunds, and rewards to increase the platform’s community size.
Solana’s Pump.Fun set to begin trading by July 18
Before the public sale, Pump. Fun already had funds during the private round. The previous sale reserved 18% of the tokens for institutional investors. Adding the two rounds, Pump.fun has now reached more than $1 billion in total funds.
The token sale took place on exchanges like Bybit, Kraken, and the website of the project. U.S. and U.K. purchasers didn’t take part due to tight regulations. This pushed the activity to Europe and Asia, as most activity did. There existed a $1 million buy limit that applied to every participant.
Meanwhile, the hype did not stop with the ICO. PUMP token derivatives were being traded on Hyperliquid at a 40% premium already before the sale’s completion. This revealed huge interest and demand in the token before the token’s
the token’s official launch. All tokens are automatically unlocked, and trading is likely to start by July 18.
Meme coin rally pushes Pump. Fun’s success
It has recently bought Kolscan, which is a real-time wallet tracker. This is an addition of more functionality to its platform, primarily targeted at users with whom it desires more insights on trading techniques. This is Pump, Fun’s broader transformation from token launches to full-scale social trading.
The meme coin market remained sizzling throughoutthe week. Major players like DOGE, TRUMP, and PEPE experienced an overnight rally prior to the sale.All that excitement probably gave the boost needed to Pump. Fun has succeeded on such an immense scale in suchlittle time.
Professionals point to the usual dangers, like fluctuations in the market and uncertain rules. But the quick sellout shows enthusiastic interest. Despite volatile terrain, tokens like Pump. Funds is finding the way to lure large sums and fast-track growth.
